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-- the budget deficit will shrink this year to $642 billion, the smallest shortfall since 2008. deficits in cbo's baseline projections continue to shrink falling to 2.1% of gdp by 2015. in english, the deficit is shrinking at a near record breaking rate. now, you would think once it came to light that the deficit is shrinking at such a rapid rate that we hit the vaunted goals even set out by our wise masters, simpson and bowles, that people in washington who have endlessly obsessed over the deficit since the take party would take notice. >> the president and his leaders in the senate are refusing to address this debt crisis. >> we had action to reduce these deficits. >> spend something out of control. >> tremendous deficits. >> debts out of control. >> does not start paying down our deficit. it is kicking the can down the road and frankly, we are out of road. >> you would think that those people would all be pushing to take credit for our incredible deficit reduction celebrating that there would be press conferences. but no, there was nothing. what makes that nothing this week so very ironic is
. and the amazing shrinking american budget deficit. i'll ask mitt romney's chief economic adviser whether he thinks the problem has gone away. >>> also, as america prepares to draw down from afghanistan, what can it learn from britain's withdrawal 170 years ago? i'll ask theauthor of a great new book. >>> next, a look into the crystal ball of technology with google's executive chairman eric schmit. a sure fire plan to reduce carbon dioxide emissions. how so? stay tuned. >>> first, here is my take. conservatives are, of course, mad at barack obama. we'll talk about the various scandals in a moment, but they're also mad at a country that isn't mad enough at him. this frustration is now taking over main stream and intelligent voices within the conservative movement and about broader issues than benghazi. brett stevens, the columnist for "wall street journal" lementes that president obama is not paying a price for a foreign policy that he, stevens, describes as isolationist. now, isolationism will come as a surprise to the diplomat soldiers and intelligence officers working on america's vast foreign po
? we'll do the math for you. >>> plus the deficit is shrinking far quicker than thought. are this year's tax hikes actually to blame or is it just a drop in the bucket? we're going to debate it. coming up. do you have ever have too much money? snowed snowed. ♪ . ♪ . melissa: talking of cruising along, have you noticed how much tesla's stock has exploded? check it out as shares have soared 150% so far this year. partly from first quarter profits of 11 million dollars, its first-ever profit. get this, its shares are up 7% after-hours as it announces new offerings of common stock an convertable senior notes. what s really going on. can shares stay this hot? joining me to break this down, "wall street journal" auto columnist, dan neil. this is a company everyone loved to hate before. now everyone loves to love it. let me try to poke a few holes in it to see what you have to say about it. first of all, robert weinstein wrote some critical things about the last earnings report that got this ball rolling and got everybody so excited. they said if you looked at the $96 million that was ge
the budget deficit down, that's the thing they keep talking about. >> yeah. >> and it strikes me they have been remarkably successful in doing that. when you look at the debt ceiling debacle that led to the budget control act which has led to the sequester that actually -- >> oh, thank you for this question. it's so far off the course. first of all, the actions taken by president obama and the house democratic congress, house and senate when he became president was the american recovery and reinvestment act, many of the initiatives that he passed are what are coming to bear now including the affordable care act. affordable care act is bringing the cost of health care in our country down in both the public and private sector and that is what is largely responsible for the deficit coming down. we all care about frugality. we don't want to spend any money we don't have to. but we do want to invest in the education of our children, the safety of our neighborhoods and the rest and even if you don't, you have to remember that teachers and firefighters and police officers are consumers. >> right.
the controversy in washington. the federal budget deficit is shrinking faster than anyone expected. the congressional budget office now projects a budget deficit of $642 billion. that's a lot but it is down more than $200 billion from its estimate as recently as february. the smallest deficit sense 2008 which is five years ago. the deficit had been topping $1 trillion every year cynic the recession ended four years ago. they credit the economic recovery, new tax rules and spending cuts with shrinking the deficit. we'll be right back. >>> welcome back to "hardball." may seem hard to believe that you're not experiencing deja vu here, but it happened again now, a military serviceman whose job it is to protect against sexual assault has excused himself of sexual assault. latest case involves a ft. hood sergeant. you won't believe this, i couldn't believe it, into prostitution and for sexually assaulting this guy did apparently charged with two others. the army's not releasing his identity as he has not been charged officially, but get a load of his job title, sexual harassment response
] >>> shrinking deficit projections are causing the street to rethink the program. steve liesman joins us on why it is more leakly. interesting after tepper's comments. >> right in line, the budget deficit increasingly seen as a catalyst for the fed to reduce its purchases of bonds to drive down interest rates. david tepper on squawk box yesterday flagging the problem faced by the fed. declining deficit means the governor will be selling less paper. the less paper the governor sel sells. right on cue, revising downward the fiscal yore 2013 by more than $200 billion from the earlier forecast to $642 billion. that compares with the deficit in fy 2012 with 1.2 million. the fed plans to buy more than $1 million a month in mortgages and that plan remains unchanged at least for now. credit suisse, the new deficit projections raise the sustainability of the purchase. we still look for a tapering with the risk and the small cut say $10 billion come sooner. ubs says the fed could find itself paying more than 100%. in order to maintain a stable accommodation of the qe, the fed would need to reduce their r
. the deficit is getting smaller. a lot smaller. the congressional budget office says it will be $400 million less than the trillion dollars deficit last year. it's down because of higher taxes. a 60 billion check to the government from fannie and freddie. there's a down side for those of us who want the government to get its finances in order, this takes the wind out of the sails of the spending, cutting movement. maybe the deficit news helped stocks, another record close for the dow, 19th this year and same story for the s&p 500, the 14th he record there this year. we're looking at a flat to slightly lower opening today, but that happened yesterday and we still went up 120 by the close. stay tuned. and suddenly, it seems that president obama's second term agenda is unravelling. and the mainstream media have turned on the administration. big government seriously questioned, my, have times have changed. in just ten days. here is the the all-government, all the time president speaking the at ohio state may the 5th. >> unfortunately, you've grown up hearing voices that incessantly worn the gove
closely here at "all in with chris hayes." >> michigan department of education has just approved a deficit elimination plan for the buena vista school district. >> the district is hopeful that everyone will be back in class as early as this week. >> you heard that right. the buena vista school district will reopen, maybe as soon as friday, and students will finish out the school year, which runs until june 13th. that's because michigan education superintendent mike flanagan finally approved the district's third deficit elimination plan last night, which cleared the way to release state funding. as we first reported last week, then again on monday, buena vista students have not been in school since friday, may 3rd, because the district is out of money and republican rick snyder refused to release $500,000, or .1% of the state's rainy day fund so buena vista schools could reopened. that caused the district to shut the doors on all three schools, send more than 400 schools home, and layoff all 27 of its teachers. when we first covered this story, there was very little movement to resolve the
the less washington will ever deal with our problems. like our deficit problems and, that, you say would be the biggest sin, potentially to come of this, right? >> it is unfortunate this is happening. as one was said when it comes to abuse of presidential power, obama's turning out to be the president that nixon aspired to be. i mean, this is really unfortuuate. neil: on a side note, you mention the nixon thing how does this compare to watergate or what you know of so far? way early in the process but some are citing the oddity of this is all 40 years almost to the day of watergate hearings. >> i was a little kid on capitol hill when all of this developed. neil: sure. >> from day to day you didn't know what was going to, shoe was going to fall next and it spread and it spread and pretty soon it was like a whole scenario. neil: i remember, that was supposed to be a left-wing cabal against a republican president. >> so who knows. this is unfortunate there are huge problems facing the country. none of them is being addressed. a lot of cans are being kicked and the budget is more important.
a city with $300,000 budget deficit. the state's appointed emergency financial manager warned that the deficit could $386 million by jewel 1st. >>> in new jersey the role other coaster at seaside heights is being demolished. it was a symbol of the pamage that superstorm sandy inflicted on the east coast. those are your headlines. i'm patti ann browne. back to you. ashley: patti ann, we thank you so much. get back to the markets. call it a case of the tuesdays. the dow less than two hours from extending the win he can street of 18 straight tuesday as the market is on track to finish in record territory yet again. joining me, above pavlick, from banyon partners with his take what he is watching to drive the market higher. bob, thank you so much for joining us. so you say, look there's lots more room to the upside. i don't say that you say a lot of room but there is room to the upside. what is driving the markets right now? we've gone through earnings. the economic date at thaa is so so. by all economic accounts we're drifting but we continue to move higher. >> absolutely. if you
the full number on security deficits. this is outrageous and senator menendez says we know about benghazi? somebody will puke out there outrageous conduct. [laughter] >> no vomit here in washington d.c. tonight studio number four. lou: maybe you are tougher. >> we have been marinating longer but to your point* the president today was so careful with the artfully crafted all of his theaters were artfully crafted and careful not to blame funding for the attackkin benghazi but mentioning funding a rounded to create the inference. boxer was less careful and when you ask about the ira'she ? he did not answer the question so he was very legalistic. lou: this is moving from a crisis of confidence, it seems to me, directly to a constitutional crisis. this president has lost his credibility. it has been shredded. where are we headed? >> but his ability is to get things done and there is no appetite in washington to get anything done with scandal swirling around the president so beleaguered not he is labor it they and lame in the dock department sooner than later. lou: with that characterization we
the city $326 million deficit is expected to grow by another 60 million before the fiscal year ends in june, or raising questions about just how well-funded as detroit's city employee pension funds are to hopefully ease the payments. lori: supreme court ruling in the patent case. relent reject a farmer's case that the soybeans were not covered by the patents. more than 90% use the seeds. closely watched by businesses that hold patents. yum brands taking a hit that they were down in china as a result of the first out rick. this may sales to be down 30%. most 5300 restaurants in china are kentucky fried chicken. the great gatsby was not enough to win this weekend. "iron man 3" tops ticket sales for the second weekend in a row. ghastly opening weekend exceeded expectations. melissa: cominn up in just a minute, we're waiting congressman darrell issa on irs targeting right-wing groups. the scope expanding beyond the tea party. reporting on the documents more than a year ago now that the news is breaking. i am sure he has a lot to say about it. lori: bloomberg apologizing for a part of the snoopi
was there shep. not much of president's agenda on display. immigration reform, budget deficit deal, another attempt at gun control. up in of that has been talk about since last week and all but a handful of questions today were about the app and the irs subjecting tea party groups to scrutiny. the president says if the irs officials acted inappropriately, they should be held ant credible. and on the phone records, he says mr. bober bober believes reporters should have unfettered access even as the government protects its secrets. >> believe it's possible to strike that balance and at the same time subpoena the phone records? >> i can't comment on the specific reports you cite. i can say the president does believe that the balance should be sought and can be found but it is a balance and, therefore, something that we need to constantly work at. >> the obama administration has launched six prosecutions for leaking classified information, which is more than all previous presidents come bind, shepard. >> shepard: on benghazi some observed that jay carney seems to not believe any of the question
bron added 23. the heat erasing 11-point second-half deficit to knock out the chicago bulls in game five. the heat again in the eastern conference finals. they await the winner of the pacers and knicks. the pacers could close that thing up at the garden tonight. >> so it could be the pacers versus memphis? >> potentially, yes. >> that's what you're hoping for. >>> turning to college basketball, rutgers university has announced julie herman as its new athletic director. herman replaces the former a.d. who resigned after a video came out of the school's former men's basketball coach mike rice. >> ow. >> caught on camera hurling basketballs at players and using in a couple cases gay slurs during practice. hermann would be rutgers' first female a.d. she comes from louisville where she served as their athletic director's top deputy. she's got more than 30 years in college athletics but no prior experience as the head of a school's athletic program. >> mike, are there a lot of top program -- >> five. she becomes the fifth in d-1 schools. >> good move. move>> g >>> up next, author, columnist, k
are hoping for tax reform. we were hoping to work more on the deficit. do you think this will diverge us from getting things like that done in washington? >> i am not so sure that the market will take that as bad news. the less they do inside the beltway seems to be the better. that is seen as bad news. the more gridlock, the better in many peoples minds. dennis: we have justice with the ap, the irs going after tea party groups, if we have a third-party to come up that is overreaching like that, it gets far worse. >> i will give you one. it is still another one. if i can quickly push back a little on what david said, i agree. i would also say be careful what you wish for. the specter of a three year lame-duck president does not look that great internationally. i do worry about that angle. >> i am not too worried about what is happening internationally. i think they will basically be just slightly by over the next couple years. it is the economy here that i am worried about. with gridlock, look at what we have been able to get done. the president realizes that he needs more tax income for natu
like the economy and the deficit and immigration reform while congress also spends so much time focused on discovering more and doing more in oversight on the scandals and controversies. here's what he had to say. >> we have to do our job to our constituents to do oversight of the federal government, we're not getting straight answers on benghazi. we're not getting straight answers on the irs. clearly we're worried about intimidation of the press with respect to the doj scandal. that doesn't mean we're only going to do that. >> his point is they can walk and chew gum at the same time, that members of congress have this oversight responsibility, but you heard him say, very pointedly, we're not getting straight answers on benghazi, we're not getting straight answers on the irs. there is a lot of feeling by republicans and even some democrats in congress that the testimony today by the acting irs commissioner did him more harm than good. even if he's on his way out the door, there are questions about whether or not he's distant from the obama administration in this. >> don't forget the ap
in principle on an immigration reform framework. and there was some positive news on the deficit. but both of those items will take a long time to pay dividends. and the administration will have to still fight the crises for now, if they ever want to be able to maximize both of these agenda items in the long term. wolf? >> jessica yellin over at the white house, thanks very much. let's dig a little bit deeper now with our chief political correspondent, host of the "state of the union" candy crowley. the president trying to change the subject today, didn't work that well, because the subject is still out there. >> there's a formula for presidents who get into political trouble. and it begins with trying to change the questions. which he did pretty well, i think, in the rose garden, at least it was a good first step. went out there and said, okay, what we really noo ed is money to help secure the embassies. that was his response to the benghazi problem. he talked about the irs, and said, well, this was done, because i take these leaks very seriously, because they endanger americans. put it i
back money from the government, the deficit over the next six months is shrinking massively. >> the fed is not reducing its purchase. here ate plan right now for what the fed is going to do. it's going to buy $270 billion in treasury over the next six months and 270 billion of mortgages. and this is demand the fixed income of $510 million. we'll show you supply here and take a look at the next chart. new supply, zoom in here, 142 billion of new supply and no new net mortgage, man a little from fannie mae or freddy mac. their 5 ten bell onof demand means there's going to be 368 billion of cash. if you could just zoom in on that number and that's the number that taper says is going to be money looking for a hope in the market these days. the result is a lot of money having no place to go, but perhaps the stocks, and the fed will be dropping down further. the next screen is the equity risk premium. this is the measure over the risk-free treasury rate. you can see it's already at a historic high now according to tepper's math, this number will go higher which means there will be more return
stuff going on. >> brian: right. because the market is going up and the deficit actually went down. >> steve: that's right until for the first time in a long time (you know who else had a surplus? california. >> steve: they still do. from california to texas, and more on that twister out of granbury, texas. this is some of the damage left behind after three big twisters leveled a community built by habitat for humanity. heather nauert standing by with details. >> good morning to you. as we're taking a live look at the pictures, you can see how some homes have been completely devastated, while others seem to not have been touched at all. we are waiting just about 30 minutes from now, officials planning to hold a press conference to update us on the widespread damage outside of dallas. this as we get a better look at the devastation done near there. the violent twisters, one was a mile wide, it completely destroyed houses, hurdling people far from their homes. at least six people are dead and dozens more have been hurt. listen. >> it was loud, very loud, you could just hear things cr
Search Results 0 to 23 of about 24 (some duplicates have been removed)

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